Spirit AeroSystems Holdings
The 10-second takeaway
For the quarter ended Sep. 27 (Q3), Spirit AeroSystems Holdings met expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share dropped to a loss.
Margins dropped across the board.
Spirit AeroSystems Holdings recorded revenue of $1.37 billion. The 16 analysts polled by S&P Capital IQ expected sales of $1.36 billion on the same basis. GAAP reported sales were 21% higher than the prior-year quarter's $1.13 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.05. The seven earnings estimates compiled by S&P Capital IQ forecast $0.54 per share. GAAP EPS were -$0.96 for Q3 against $0.47 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was -27.9%, 4,270 basis points worse than the prior-year quarter. Operating margin was -15.4%, 2,610 basis points worse than the prior-year quarter. Net margin was -9.8%, 1,580 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.41 billion. On the bottom line, the average EPS estimate is $0.60.
Next year's average estimate for revenue is $5.38 billion. The average EPS estimate is $2.02.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 313 members out of 330 rating the stock outperform, and 17 members rating it underperform. Among 90 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 87 give Spirit AeroSystems Holdings a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Spirit AeroSystems Holdings is outperform, with an average price target of $29.00.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no positions in the stocks mentioned above. Motley Fool newsletter services recommend Spirit AeroSystems Holdings. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.